6 rules of rewards credit card power users
Play your rewards cards right and they can lead to enviable vacations, luxury gifts or cold hard cash. Play them wrong and they can cost you. Maximizing your rewards credit cards boils down to understanding how your card works and minding the pitfalls, say the experts. Here are six strategies to help you get the [...]
Do high credit scores guarantee you the best credit cards?
If you’ve ever been turned down for a credit card, the Fair Credit Reporting Act requires the lender to tell you which part of your credit profile hit a sour note, whether it was a past bankruptcy or too many late payments. Since the recent economic downturn, most credit card companies have made their criteria [...]
A look inside the national credit card hotline
The number isn't as catchy as 911 or 411, but for beleaguered credit card holders, 1-855-411-CFPB (2372) could end up being a financial lifeline.
In case you don't know what that last phone number is, that's the direct toll-free hotline to the Consumer Financial Protection Bureau, the brand new Federal agency launched on July 21. If [...]
How Cards Work , Legislation
The truth about bankruptcy and your credit score
If you've ever filed for bankruptcy, or considered doing so, you probably worried about the impact of a bankruptcy filing on your credit score.
That concern is understandable. After all, a bankruptcy stays on your credit reports for 10 long years.
But choosing bankruptcy protection doesn't mean your overall credit rating has to suffer for a decade. [...]
Premium credit cards: Golden goose or golden noose?
Every year, the Office of the Comptroller of the Currency surveys the leaders of America's major banks to understand the overall lending landscape. This year's Survey of Credit Underwriting Practices marks the first time in four years that a majority of credit card issuers left their consumer lending requirements unchanged, instead of tightening them. In [...]
Just say no: 3 unnecessary credit card benefits
If you buy a bag of corn chips at the grocery, you're probably also getting a container of salsa. If you purchase an iPod, you'll probably want earbuds with it or some apps. Some products, like digital cameras (batteries) and reading lamps (light bulbs), virtually demand that you purchase an add-on.
It's a longer leap of [...]
5 credit score serial killers
When we're kids, those shirts in the bedroom closet can look like lurking monsters. Without a nightlight, the dark can seem ominous and chilling. When we're a little older, our fears turn to horror movies, roller coasters and pop quizzes. But for grownups, there's nothing quite as dark and creepy as a steadily dropping credit [...]
Credit cards with chips: Are the urban legends true?
New technology usually comes with its share of consumer concerns. It's no surprise that urban legends and myths have proliferated about the new EMV chip credit cards. Here are a few of the most common, along with our expert opinion as to their veracity:
PINs don't matter.
Researchers from the University of Cambridge discovered that a fraudster [...]
How Cards Work , ID Theft / Fraud , Tips
Should you pay credit card debt with a P2P loan?
Although interest rates are at historically low levels, even the best credit card rates remain in the double digits. So if you're grappling with credit card bills, it can sometimes seem insurmountable to dig out of debt.
To slash borrowing costs and more quickly eliminate debt, consumers are increasingly using alternative repayment strategies, including peer-to-peer lending.
Your next credit card may change the way you shop
If you've recently traveled to Europe, or if you live in a popular tourist area in the United States, you may have noticed a new kind of credit card terminal at checkout counters. These devices combine the familiar magnetic stripe reader with up to two new sensors: a slot for credit cards with exposed "EMV [...]
Tips, ID Theft / Fraud